I think Warren Buffett had a very related take. Basically, in America at least, real businesses which simply make a profitable product well, are no longer viabl

I think Warren Buffett had a very related take. Basically, in America at least, real businesses which simply make a profitable product well, are no longer viable. The only viable businesses are those which have some "trick" which appeals to the capital owning class, I feel like crypto is a pretty good example of this in action. So we see this endless game of "large" "profitable" companies that are the equivalent of 90s vaporware, doing nothing but shuffling numbers around in a spreadsheet without creating value. But the government is terrified of any form of meaningful regulation (because so much campaign finance is tied into these zombie corporations)